Does a seller find out a lender’s valuation?

Bigphil1474

Does depend on the lender. The valuation on the property we are buying was done online in about 10 seconds, but we have a very low LTV (around 20%). We didn't have a survey through them, sorted out our own. The home buyers survey is yours to do what you want with. We have seen the one our first buyer had, and surprisingly it valued the house at the price he had offered. Not surprised obviously, but I expect most will either be, Yes it's worth what you are paying, or there's issues so it's not worth that much.

Scotbot

I am selling. No idea what the buyers valuation was. 

kingstreet

pjs493 said:

I’ve seen a few posts about people getting into difficulty when a leader values a property below what the agreed purchase price is. Obviously this isn’t a problem if the lender values the property for more than the asking price. 

My question is does a seller ever find out the lender’s valuation? Or would they only know this if the buyer shared the information with them?

So for example if price was agreed for X and the lender valued it above this price, would the seller find out and potentially ask for more money? Or is this figure private between the buyer, lender, and the buyer’s solicitor?

A surveyor values a property on behalf of a lender. The instruction issued to the surveyor shows the agreed price, or estimated value in the case of a remortgage. Typically, a surveyor is establishing only if the property provides adequate security for a mortgage.

I have seen "upvaluations" in a handful of cases in my forty years in this business.

The vendor will have no source to gain the valuation figure. It can come only from the purchaser.